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Wooplr app secures $5mn funding led by Helion Ventures
18
Feb '15
India’s first mobile fashion discovery and shopping platform Wooplr has secured Series A funding round of US$ 5 million led by Helion Ventures.
 
The Bangalore-based Wooplr app helps people decide what to buy and where to shop based on their interests, location and social circle. It gives the user a personalised feed of curated fashion products.
 
The $5 million funds will primarily be used to hire top talent, expand the team and grow the Wooplr community as a whole, Wooplr said on its blog.
 
The Series A financing in fashion m-commerce startup comes after an exceptional year for Wooplr which saw a rapidly growing roster of clients and market momentum in the fast burgeoning area of m-commerce.
 
The infusion of funds will see Rahul Chandra, co-founder and managing director of Helion Ventures, join Wooplr’s Board of Directors.
 
Commenting on the funding, Arjun Zacharia, CEO of Wooplr said, “Wooplr has just scratched the surface of the potential that m-commerce has to offer in India to both consumers and merchants. The financial support and domain expertise of Helion Ventures and our angel investors will help us execute our vision even more rapidly and with focus.”
 
“Wooplr’s offering is well-timed with the rapidly increasing demand for solutions in m-commerce that brings together both, online and offline retailers on a common platform,” said Rahul Chandra. “We believe the market will continue to see a shift towards m-commerce. Wooplr is a powerful solution for the industry and we are excited to collaborate with and support them as they work to build a great company in an exciting category” he added.
 
Wooplr was co-founded by four ex-McAfee (now Intel) employees with diverse backgrounds in 2013, and the Wooplr mobile app was released in December, 2013. About 80 per cent of Wooplr’s fast growing community of shoppers are women.
 
The company previously raised $225,000 from a group of angel investors including Rahul Khanna, Sunil Kalra, Vivek Pandit and Jaspreet Bindra.
 
Founded in 2006, Helion is a multi-stage, technology focused venture fund with over $600 million under management. The company invests in technology and technology-powered businesses such as ecommerce, online services, mobility, enterprise software and outsourcing. (RKS)
 

Fibre2fashion News Desk - India


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